Fed's Daly: shifts in labort market could trigger policy adjustments
Source Fxstreet
San Francisco Federal Reserve (Fed) President Mary C. Daly spoke about the Fed's policy outlook during an interview on Fox Business on Friday.
The San Francisco Fed President since 2018, Mary C. Daly will be rotating from an Alternate Member voting seat to a full Member for the 2024 Fed chair rotation when the Fed next meets on January 31, and she will directly vote on rate operations through the fiscal year.
Key highlights
- Fed's Daly: early signs of faltering in the labor market could trigger policy adjustments.
- It's also important to watch for any rises in delinquency rates as an early indicator of economic weakness.
- Fed needs to get inflation on a consistent trajectory to 2%, need further evidence to feel confident in rate adjustments.
- Markets are premature in thinking rate cuts are just around the corner.
- It is far too early to declare victory on inflation.
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EUR/USD steadies near 1.1650 ahead of US Nonfarm PayrollsEUR/USD holds ground after five days of losses, trading around 1.1650 during the Asian hours on Friday. Traders remain cautious ahead of the US Nonfarm Payrolls (NFP) report, which is expected to offer further insight into labor market conditions and the Federal Reserve’s (Fed) policy outlook.
EUR/USD holds ground after five days of losses, trading around 1.1650 during the Asian hours on Friday. Traders remain cautious ahead of the US Nonfarm Payrolls (NFP) report, which is expected to offer further insight into labor market conditions and the Federal Reserve’s (Fed) policy outlook.
